The U.S. Department of Justice asked Deutsche Bank, Germany’s biggest lender, to pay $14 billion to settle an investigation into the sale of residential mortgage-backed securities. The company said it has “no intent” to pay the huge sum tied to the bank’s sale of mortgages between 2005 and 2007 and ... Read More »
Five years after the housing recovery began, 5.9 million borrowers still owe more on their mortgages than their homes are worth. The so-called negative equity rate in the U.S. is falling, now at 12 percent of all mortgaged homeowners, according to Zillow, down from more than 14 percent a year ... Read More »
Another U.S. bank is now offering a low down payment mortgage. Wells Fargo introduced the yourFirstMortgage program Thursday that offers home loans for up to $417,000 with down payments as little as 3%. The San Francisco-based bank said the program is aimed at helping low- and moderate-income people and first-time ... Read More »
